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Fortune
Fortune
Jim Edwards

The Fed is “meaningfully deviating” from one of the most basic rules for fighting inflation, BofA warns

BofA US Federal Reserve
(Credit: Tom Williams/CQ Roll Call)

Good morning. On Fortune’s radar today:

  • Fed is breaking Econ 101’s golden rule, BofA warns.
  • Markets: “Blown past expectations.”
  • U.K.’s Starmer clings on as his MPs revolt.
  • Iran vows to make U.S. taxpayers feel the pain.
  • Tech bloodbath: 118,000 jobs gone in 2026.
  • Forget your office ping-pong — meet the Wimbledon of work.

Quick note: Subscribe to the forthcoming Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.

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